The investment firm sold 7,05,389 shares, representing 1.5% stake in the paint maker, at Rs 1,475.32 a share, according to bulk deals data on the National Stock Exchange.
Abneesh Roy says: “In our view, in Q3, most of the companies will see flat to low-single digit volume growth in the rural areas while urban areas will be growing faster. Even in Q4, we do not see a big recovery in rural demand currently. Our sense is the recovery will happen in FY25, based on Rs 1 lakh crore election spending, government stimulus, freebies, etc.”
Abneesh Roy says: “In our view, in Q3, most of the companies will see flat to low-single digit volume growth in the rural areas while urban areas will be growing faster. Even in Q4, we do not see a big recovery in rural demand currently. Our sense is the recovery will happen in FY25, based on Rs 1 lakh crore election spending, government stimulus, freebies, etc.”